Vixtel Technologies Holdings Limited announces that, with effect from 1 June 2022, Mr. Sie Tak Kwan has resigned as chief executive officer of the company. Mr. Sie will remain as a financial director of Vixtel Technologies Limited an indirect wholly-owned subsidiary of the Company. The board also announced that Mr. Shi Zhimin (Mr. Shi) has been appointed as Chief Executive Officer with effect from 1 June 2022.

Mr. Shi, aged 40, was appointed as an executive Director on 16 March 2022. He obtained a bachelor's degree in business administration from China University of Geosciences in 2004 and has extensive management experience in listed companies. During the period from July 2009 to October 2015, Mr. Shi was the general manager of Shenzhen Ruice Technology Company Limited, which engages in technology development, sales and on-site maintenance of test instruments, meters, electronic equipment and mechanical equipment parts, chemical products (excluding dangerous goods), optoelectronic materials, insulation materials, rubber and plastic materials, heat shrinkable materials; information consulting; and import and export business.

During the period from 6 April 2016 to 6 November 2017, Mr. Shi was the chairman of Guangdong Boxin Investment Holding Company Limited, a company whose shares are listed on the Shanghai Stock Exchange (600083.SH) and engages in the business of intelligent hardware and its derivative products, leasing and sales of heavy machinery and equipment, and commodity trading. Mr. Shi has been the general manager and legal representative of Shenzhen Qianhai Xuanzhuo Investment Management Company Limited since November 2015. He has also been the executive affairs representative of Shenzhen Qianhai Xuanzhuo Investment Development Centre since November 2015.

It is a company that engages in investment management, entrusted asset management (excluding trust, financial asset management, securities asset management and other restricted projects), equity investment, investment and running of corporate entities participating in setting up and providing management consultancy to venture capital enterprises, investment and corporate management consultancy services.